Lufthansa is cleared to acquire a 41% stake in ITA Airways after the European Commission approved a remedies package in a deal with the Italian government on Friday.
The €325 million deal had been on hold after the German group and Italy’s Ministry of Economy and Finance disagreed over some aspects of the initial plan.
Lufthansa has agreed to give more slots and routes to EasyJet and Air France-KLM in exchange for approval by the European antitrust watchdog.
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Under the deal, the German group will transfer slots at Milan Linate and Rome airports to destinations in Central Europe.
The airline has also committed to reaching agreements with the IAG Group (British Airways, Iberia and others) and Air France-KLM so that they can expand non-stop flights to the United States.
“The Commission has concluded that the remedy agreements entered by Lufthansa and the MEF [Italian Ministry of Economy and Finance] with the suitable remedy takers to implement the remedy package are consistent with the commitments,” the antitrust body said in a statement.
Following today’s approval, Lufthansa and the MEF can implement the transaction,” the European Commission statement concluded.
